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17-06-2019, 15:28   #16
Diceicle
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Is 50% not high enough? Most landlords income will be over the standard rate band so around 50%. It comes with a lot of risks. I think the tax is very high and I'm not even a landlord.
50% of what though?
On the property that costs €500 a month in mortgage but we're charging some young worker €2000 a month to live in it?
Rents and the cost of living need to be brought down by Government policy - it won't happen because we don't have a Government with the brains to think it through or the balls to implement it.
Don't get me wrong - I'm broadly sympathetic to Landlords on an individual level - but allowing an over-inflated rental sector to exist is not good for the economy.
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17-06-2019, 15:37   #17
Graham
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On the property that costs €500 a month in mortgage but we're charging some young worker €2000 a month to live in it?
€500/month on a buy-to-let mortgage is going to get you a mortgage of approximately €80k.

Where are you finding €80k properties that rent for €2k a month?
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18-06-2019, 16:37   #18
Diceicle
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€500/month on a buy-to-let mortgage is going to get you a mortgage of approximately €80k.

Where are you finding €80k properties that rent for €2k a month?
Are there no properties bought decades ago on the market? Do properties not be transferred via wills etc?
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18-06-2019, 16:53   #19
Graham
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Are there no properties bought decades ago on the market? Do properties not be transferred via wills etc?
I'm not sure that's a particularly representative example rental property for your sweeping generalisation.

Looking at current rental yields a property with a monthly rent of €2,000 would have a value of around €350,000.

Last edited by Graham; 18-06-2019 at 18:08.
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19-06-2019, 05:52   #20
Graces7
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[QUOTE=Lackadaisical;110456923]Our welfare spend by EU standards isn't that high btw.

We urgently need to get better value for money on major state expenditure like public health though. We are spending like Sweden and getting bad results all the time. So where's that money going?


There seem to be compensation payouts almost weekly from lawsuits against HSE for errors etc.
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19-06-2019, 06:41   #21
Yurt!
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The Singapore housing model is basically the only thing that will stop this cycle. But it won't be done - Paddy won't have it.

State takes a more active role in land management via Land Value Taxes that gives a disencentive to land hoarding and speculation, and an incentive to efficient land use. This would be a tough one for Paddy to swallow and would lead to immediate howls of communism. Yet the Singaporeans are anything but communist.

State builds housing and sells it at cost. Citizens / permanent residents are entitled to purchase one apartment and may not resell it for a fixed number of years. There's a clawback percentage for the state when it is resold. Nobody gets anything for free and it's cost-neutral for the government, but housing is accessible and affordable pretty much for all.

People may buy on the open market, but these units tend to be much more expensive.

Last edited by Yurt!; 19-06-2019 at 06:46.
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19-06-2019, 07:06   #22
Dawido
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yes that's true, the state failed. where adult workers are not able to rent house by themselves when they are working it's a sign of state failure, but it's not the only place where the state has failed - police force, hospital, public transport are all on their knees and it's only going to get worse
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